The Kentucky Chamber of Commerce is expected to announce its support today for a constitutional amendment to allow gambling to be expanded in the state.
Kentucky Governor Steve Beshear has indicated that a proposal to amend the constitution will be tabled in the near future.
A recent study commissioned by the organisation and carried out by Spectrum Gaming Group found that adding casino-style gaming at eight Kentucky racetracks would produce $1.7bn of gross state product in the first year of operations.
Additionally, legalising such games at racetracks would create nearly 11,000 jobs, $1.14bn in gross gaming revenue and $464.7m in gaming tax revenues.
"Expanded gaming is not only about protecting Kentucky's signature horse industry, it is a way to generate substantial investment and job growth in the Commonwealth," said Dave Adkisson, president and CEO of the Kentucky Chamber. "This study shows we have an opportunity to not only stem job losses, but to expand and grow them within our borders by recapturing economic activity from other states. Expanded gaming is an appropriate response to other states' assault on our signature industry."
Chamber representatives are due to hold a press conference at 1pm (EST) today to discuss the matter.
More to follow.
